DCR issues warning regarding potential microbusiness license scam
The promise of new opportunities can sometimes attract unscrupulous individuals seeking to exploit the enthusiasm of hopeful entrepreneurs.
A recent alert issued by the Missouri Division of Cannabis Regulation (DCR) regarding potential microbusiness license scams serves as a reminder that due diligence and cautious discernment are vital when navigating this emerging industry.
The Division of Cannabis Regulation has issued a warning about solicitation efforts that offer an enticing proposition: the chance to own a marijuana microbusiness facility.
These solicitations dangle the allure of eligibility determination and even monetary compensation for those who submit applications. However, the DCR is swift to clarify that it is not affiliated with these solicitations, nor can it vouch for their legitimacy. The DCR’s message is clear: if you receive a communication offering you a partnership or partial ownership in a microbusiness facility license, tread with caution.
While a handful of legitimate businesses and consultants in Missouri have offered a helping hand or partnership to potential microbusiness applicants, an increasing number of solicitations have popped up from unverified sources and companies that seemingly evolved overnight with no credence or verification to support their claims.
In the pursuit of cannabis-related ventures, distinguishing between legitimate opportunities and potential scams is paramount. As the industry continues to grow, so do the various shades of gray within it. Aspiring entrepreneurs should not only consider the authenticity of such offerings but also undertake due diligence to ensure their eligibility. The DCR’s advice to verify and confirm the legality of an opportunity before proceeding is sound.
In many cases, the old adage – if it seems too good to be true, it probably is – is sound advice. Claims by some companies promise the ability to secure one of the limited microbusiness licenses, something that is inscrutably untrue. The distribution of microbusiness licenses will be equitably split among Missouri’s eight congressional districts, additionally, licensee selection will be handled by the utilization of a random lottery drawing, administered by the Missouri Lottery.
The application window closes on Thursday, August 10.
After the lottery drawing concludes, the subsequent review of applications by the DCR paves the way for approved winners to receive their microbusiness licenses no later than October 4, 2023. Communication throughout the process, including the announcement of lottery results on the DHSS website, ensures that all applicants remain informed and engaged stakeholders.
